Halsin has no beard. He is tall and beefy, yes, but no beard whatsoever. I love him, though, and so do many other people. I doubt they will change his design, he is incredibly popular with the fan base.
Edit: You guys mentioned Tolkien as the ultimate authority on elves. His elves did have beards sometimes. Círdan the Shipwright had a beard at the end of the Third Age. But, according to Forgotten Realms lore, elves have no facial or body hair.